MAY
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6.25% 3.0¢ melbana energy limited

Good luck with your strategy but I’m not happy to be sitting on...

  1. justinmetals
    7,824 Posts.
    lightbulb Created with Sketch. 1510
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    16/10/23
    22:38
    Post #: 70376228
    Good luck with your strategy but I’m not happy to be sitting on the sidelines and while I appreciate this is already Mcap of an almost 1B project, block 9 is going to end up being a $50B dollar project not $5B. Easily still got 50-100 bags in it for MAY SHs.
    This dead beat flat chart will end any day now and there should be plenty of pulsating res flow through to Feb 2024
    1. U1B Dev plans
    2. Seismic plans
    3. Rig announcements
    4. Extra pad and permit announcements
    5. Pipe plans
    6. Trucking news
    7. A-2 production
    8. Reserves/resources upgrades 300-500M barrels in u1B net to MAY…
    9. Monetisation
    Plenty of other things could happen that I’ve got no vision for. US relations, oil price, wars, TO offer from China or Russia. And by the time A3 is drilled (I’m guessing 3month drill time) the story will be a whole lot different and I just can’t see <$500M mcap washing at all despite bugger all production. Has to find a new floor around 15c. Haha. After marti (which cartoons show open to the E&W) MAY could have reserves of 1B NET by as early as June 2024…. Don’t mention my auntie uncle and balls..

    Good luck indahood and everyone
    Last edited by justinmetals: 16/10/23
    MAY Price at posting: 6.4¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 27  Upvote
    lightbulb Created with Sketch.  Great analysis
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